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LSDefine
Simple English definitions for legal terms
société
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A quick definition of société:
Société: A French word that means a partnership or a company. There are different types of société in French law, such as a limited partnership, joint-stock company, or a joint venture. In a partnership, people work together and share the profits and losses. In a joint-stock company, people can buy shares and own a part of the company.
A more thorough explanation:
Société is a French legal term that refers to different types of partnerships and companies.
- Société anonyme: This is an incorporated joint-stock company.
- Société en commandite: This is a limited partnership.
- Société en nom collectif: This is an ordinary partnership where all members are jointly and severally liable for the partnership debts.
- Société par actions: This is a joint-stock company.
These examples illustrate the different types of partnerships and companies that fall under the term société in French law. For instance, a société anonyme is a type of company that is incorporated and has a joint-stock structure. On the other hand, a société en nom collectif is a partnership where all members are equally responsible for the partnership's debts.